Deposits into Operating Account Sample Clauses

Deposits into Operating Account. Section 3 of the Original Agreement is hereby deleted in its entirety and replaced with the following:
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Deposits into Operating Account. From and after the Management Commencement Date, Manager shall deposit into the Operating Account all Gross Revenues received with respect to the Golf Course promptly following receipt thereof. If at any time Manager determines that the funds on deposit in, or projected to be on deposit in, the Operating Account (taking into account reasonably anticipated Gross Revenues) will be insufficient to pay, as and when due, Operating Expenses reasonably anticipated to be incurred in accordance with the Approved Annual Business Plan during the immediately succeeding thirty (30) calendar days, Manager shall have the right to provide written notice (a “Notice of Operating Account Deficiency”) to Owner of the amount of such anticipated deficiency. The Notice of Operating Account Deficiency shall set forth the anticipated amount of the deficiency. Within five (5) days following receipt of a Notice of Operating Account Deficiency, Owner shall deliver to Manager for deposit into the Operating Account an amount equal to the anticipated deficiency specified on the Notice of Operating Account Deficiency.
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Deposits into Operating Account. On each Monthly Transfer Date, to the extent funds are available in the Revenue Account for such purpose, the Depositary Agent shall transfer the amounts specified in the applicable Withdrawal Certificate from the Revenue Account to the Operating Account as set forth in clause (i) of Section 3.2(c).
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Deposits into Operating Account. Upon the funding of each Credit Advance by Lender to ESPV, E@W shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account. The Reserve Deposits shall be used solely (i) for the payment by E@W of ESPV Credit Default Payments pursuant to the terms of this Agreement, and (ii) for the purchase by ESPV of Participation Interests pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement.
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Deposits into Operating Account. If an LTV Covenant Default would occur as provided in Section 8.1(a) of the Financing Agreement, then EFF shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account. The Reserve Deposits shall be used solely (i) for the payment by EFF of EFSPV Credit Default Payments pursuant to the terms of this Agreement, and (ii) for the purchase by ESFPV of Participation Interests pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement."
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Deposits into Operating Account. If an LTV Covenant Default would occur as provided in Section 8.1(a) of the Financing Agreement, then Elastic shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account. The Reserve Deposits shall be used solely (i) for the payment by Elastic of ESPV Credit Default Payments pursuant to the terms of this Agreement, and (ii) for the purchase by ESPV of Participation Interests pursuant to the Participation Agreement and the Participation Interest Purchase and Sale Agreement."
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Deposits into Operating Account. During the period commencing ------------------------------- on the Effective Date and ending on the last day of the term of the Amended and Restated Lease, Lessee shall deposit or cause to be deposited with the Disbursement Agent (i) all Project Revenues, (ii) all amounts received pursuant to any business interruption insurance and (iii) all proceeds of Lessee Working Capital Loans. The Disbursement Agent shall deposit all such Project Revenues (other than investment earnings on amounts on deposit in any Account, which shall be held as part of such Account in accordance with Section 13.01 of this Disbursement Agreement) into the Operating Account.
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Deposits into Operating Account. The Borrower agrees and confirms that it has irrevocably instructed:
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Deposits into Operating Account. Upon the funding of each Credit Advance by Lender to EFSPV, EFF shall deposit or cause to be deposited an amount equal to the Reserve Deposit into the Operating Account. The Reserve Deposits shall be used solely (i) for the payment by EFF of EFSPV Credit Default Payments pursuant to the terms of this Agreement, and (ii) for the purchase by EFSPV of Participation Interests pursuant to the Participation Agreement.
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Related to Deposits into Operating Account

  • Operating Accounts (a) Maintain its primary operating and other deposit accounts and securities accounts with Bank and Bank’s Affiliates.

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Deposits into the Escrow Account All Subscribers will be directed by the Issuer and its agents to transmit their data and subscription amounts via Escrow Agent’s technology systems (“Issuer Dashboard”), directly to the Escrow Account to be held for the benefit of Subscribers in accordance with the terms of this Agreement and applicable regulations. All Subscribers will transfer funds directly to the Escrow Agent for deposit into the Escrow Account. Escrow Agent shall process all subscription amounts for collection through the banking system, shall hold Escrow Amounts, and shall maintain an accounting of each such subscription amount posted to its ledger, which also sets forth, among other things, each Subscriber’s name and address, the quantity of Securities purchased, and the amount paid. All subscription amounts which have cleared the banking system, are hereinafter referred to as the “Escrow Amount”. No interest shall be paid to Issuer or Subscribers on balances in the Escrow Account. Issuer shall promptly, concurrent with any new or modified subscription agreement (each a “Subscription Agreement”) and/or Offering materials, provide Escrow Agent with a copy of such revised documents and other information as may be reasonably requested by Escrow Agent which is necessary for the performance of its duties under this Agreement. Escrow Agent is under no duty or responsibility to enforce collection of any subscription amounts whether delivered to it or not hereunder. Issuer shall cooperate with Escrow Agent with clearing any and all AML and funds processing exceptions. Funds Hold; Clearing, Settlement and Risk Management Policy: All parties agree that Subscriber funds are considered “cleared” as follows: * Wires — 24 hours (one business day) following receipt of funds; *ACH — 10 days following receipt of funds; *Credit and Debit Cards – 24 hours (one business day) following receipt of funds. For subscription amounts received through ACH transfers, Federal regulations provide Subscribers with the right to recall, cancel or otherwise dispute the transaction for a period of up to 60 days following the transactions. Similarly, subscription amounts processed by credit or debit card transactions are subject to recall, chargeback, cancellation or other dispute for a period of up to 180 days following the transaction. As an accommodation to the Issuer and Broker, subject to the terms of this Agreement, Escrow Agent shall make subscription amounts received through ACH fund transfers available starting 10 calendar days following receipt by Escrow Agent of the subscription amounts and 24 hours following receipt of funds for credit and debit card transactions. Notwithstanding the foregoing, all cleared subscription amounts remain subject to internal compliance review in accordance with internal procedures and applicable rules and regulations. Escrow Agent reserves the right to deny, suspend or terminate participation in the Escrow Account any Subscriber to the extent Escrow Agent, in its sole and absolute discretion, deems it advisable or necessary to comply with applicable laws or to eliminate practices that are not consistent with laws, rules, regulations or best practices. Prime Trust reserves the right to limit, suspend, restrict (including increasing clearing periods) or terminate the use of ACH, credit card and/or debit card transactions at its sole discretion. Without limiting the indemnification obligations under Section 11 of this Agreement, Issuer agrees that it will immediately indemnify, hold harmless and reimburse the Escrow Agent for any fees, costs or liability whatsoever resulting or arising from funds processing failures, including without limitation chargebacks, recalls or other disputes. Issuer acknowledges and agrees that the Escrow Agent shall not be responsible for or obligated to pursue collection of any funds from Subscribers.

  • Revenue Account (a) Subject to Section 4.13, on each Monthly Transfer Date the Collateral Agent shall transfer with respect to each Owner Lessor, such Owner Lessor's Percentage of the funds on deposit in the Revenue Account in the following amounts in the following order of priority: FIRST, to the Operating Account, the amount certified in such Request Letter to be such Owner Lessor's Percentage of the excess, if any, of the aggregate amount of Operating Expenses then due and payable or projected to become due and payable in the next succeeding month over the balance then on deposit in the Operating Account; PROVIDED that if the Annual Budget in effect for such Fiscal Year of the Facility Lessee was determined in accordance with Section 5.14(b) or 5.14(c) of any Participation Agreement, then the amount withdrawn from the Operating Account on any Monthly Transfer Date during such Fiscal Year shall not exceed the amount set forth in such Annual Budget for the immediately succeeding calendar month unless agreed to by the Majority in Interest of the Owner Lessors except with respect to fuel and emission allowance costs which shall not be subject to the consent or approval of the Owner Lessors; SECOND, to the Collateral Agent, the applicable Owner Lessor's Owner Manager, the Lease Indenture Trustee, the Security Agent and the Bondholder Trustee, the amount certified in the Request Letter delivered in connection with such Monthly Transfer Date to be the sum of the unpaid fees, indemnities, costs and expenses then due and payable to such Persons in respect of their respective services in such capacities; PROVIDED THAT in the case of the Collateral Agent and the Bondholder Trustee, such amount shall be such Owner Lessor's Percentage of the sum of the unpaid fees, indemnities, costs and expenses of the Collateral Agent and the Bondholder Trustee; THIRD, into the applicable subaccount of the Senior Rent Payment Account, an amount equal to (a) 1/6th of the aggregate amount which is payable on or within six months following such Monthly Transfer Date on account of Senior Rent (other than of the type specified in clause (b) of the definition thereof) under such Owner Lessor's Facility Lease and (b) the aggregate amount of all Senior Rent of the type specified in clause (b) of the definition thereof, under such Owner Lessor's Facility Lease for which will become due and payable prior to the next Monthly Transfer Date together with the amount of all deficiencies, if any, with respect to deposits required to be made in the applicable subaccount of the Senior Rent Payment Account in all prior months, as certified in the Request Letter; FOURTH, subject to Section 4.13 hereof and to Section 6.9 of the Participation Agreement, if applicable, and to the Operative Documents applicable to the Persons entitled thereto, an amount equal to all other Supplemental Rent (other than Excepted Payments) under the applicable Facility Lease then due and payable to such Persons as certified in the Request Letter; FIFTH, into the Permitted Indebtedness Account, such Owner Lessor's Percentage of an amount sufficient to repay in full the Permitted Indebtedness then due, as certified in the Request Letter; SIXTH, into the applicable subaccount of the Equity Account, such Owner Lessor's Percentage of the balance remaining in the Revenue Account.

  • Establishment of Escrow Account; Deposits in Escrow Account With respect to those Mortgage Loans on which the Servicer or any Sub-Servicer collects Escrow Payments, if any, the Servicer shall, and shall cause the Sub-Servicer to, segregate and hold all funds collected and received pursuant to each such Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of trust accounts. Such Escrow Accounts shall be established with a commercial bank, a mutual savings bank or a savings and loan association the deposits of which are insured by the FDIC in a manner which shall provide maximum available insurance thereunder, and which may be drawn on by the Servicer. The Servicer shall give notice to the Trustee of the location of any Escrow Account, and of any change thereof, prior to the use thereof. Nothing in this paragraph shall be deemed to require the Servicer to collect Escrow Payments in the absence of a provision in the related Mortgage requiring such collection. The Servicer shall deposit, or cause to be deposited, in any Escrow Account or Accounts on a daily basis, and retain therein, (i) all Escrow Payments collected on account of any Mortgage Loans, for the purpose of effecting timely payment of any such items as required under the terms of this Agreement and (ii) all amounts representing proceeds of any hazard insurance policy which are to be applied to the restoration or repair of any Mortgaged Property. The Servicer shall make withdrawals therefrom only to effect such payments as are required under this Agreement, and for such other purposes as are set forth in Section 5.11. The Servicer shall be entitled to retain any interest paid on funds deposited in the Escrow Account by the depository institution other than interest on escrowed funds required by law to be paid to the related Mortgagor and, to the extent required by law, the Servicer shall pay interest on escrowed funds to the related Mortgagor notwithstanding that the Escrow Account is non-interest-bearing or that interest paid thereon is insufficient for such purposes.

  • Deposits into Escrow a. All Cash Investment Instruments shall be delivered directly to NCPS for deposit into the Escrow Account described on Exhibit A hereto. Each such deposit shall be accompanied by the following documents:

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Establishment of Escrow Accounts; Deposits in Escrow Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one or more Escrow Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by Escrow Account Letter Agreement in the form of Exhibit 8.

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